Saudi Arabia has launched a new Temporary Work Visa to attract skilled short-term workers. The new visa is easier to acquire than the previous Work Visit Visa and is not limited to technical and specific roles. It is also open to a wider range of workers, including female workers above the age of 40. To […]
The International Monetary Fund (IMF) is poised to scrutinize Pakistan’s government for its delay in notifying the gas tariff increase approved by the Oil and Gas Regulatory Authority (OGRA) in June. This scrutiny comes as part of the upcoming review under the IMF’s $3 billion Standby Arrangement, with a $1 billion tranche due in November. […]
Due to a critical shortage of natural gas in Karachi, the Sui Southern Gas Company (SSGC) has made the tough decision to halt gas supply to CNG stations for a duration of 72 hours, and to industries for 48 hours. As per the SSGC spokesperson, gas supply to all CNG stations within Sindh province, including […]
The Pakistan State Oil (PSO) reported that its profit dropped by 90% in the financial year 2023, mainly because of an increase in the cost of production, inflation, and other financial vulnerabilities. The state-owned oil company’s profit stood at Rs 9.82 billion for the year that ended on June 30th. In the previous financial year, […]
The National Electric Power Regulatory Authority (Nepra) has given the green light for a Rs. 5.40 per unit hike in power tariffs as part of the quarterly adjustment for the final quarter of fiscal year 2022-23 (FY23). This adjustment, requested by the ex-Wapda distribution companies (XWDISCOs), encompasses various factors such as capacity charges, transmission charges, […]
In a troubling development, Pakistan International Airlines (PIA) has been forced to ground a significant portion of its aircraft fleet, with a total of 11 planes, including three Boeing 777s, taken out of service. The national carrier is grappling with a severe financial crisis that has severely impacted its operations. PIA, which typically operates a […]
The Pakistani Rupee has finally gone up on Tuesday after facing severe pressure against the US Dollar on Monday. According to market data, the local currency was trading at Rs. 296.75 against the US Dollar after an increase of 38 paisas. On Monday, the closing interbank rate was Rs 297.13.
Lucky Cement’s second solar power plant is up and running. The project is initiated with the objective to reduce the cost of operations while increasing the profit margin in the current challenging economic environment. A notification sent to the Pakistan Stock Exchange (PSX) by Lucky Cement read, “We are pleased to announce the successful completion […]
In a continued trend, the price of gold in Pakistan marked its fifth consecutive day of growth this week, culminating in a closing value of Rs. 226,800 per tola on Saturday. Data released by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) revealed a significant surge in the price of 24-carat gold, with an increase […]
China and Pakistan both have categorically condemned the terrorist attack on Chinese Engineers in Gawadar. The Chinese Foreign Ministry issued an official statement stating that any attempt to sabotage China and Pakistan’s friendship and CPEC will not succeed. Wang Wenbin said, “China will continue to work with the Pakistani side to jointly guard against and […]
Recent developments reveal a pause in the import of what was once touted as ‘inexpensive’ Russian crude oil, triggered by a refining process that yielded a higher proportion of furnace oil compared to petrol. A trusted National Daily presents insights from sources indicating that Pakistan Refinery Limited (PRL) has declined further processing of Russian crude, […]
Pakistan is gearing up for a crucial economic review as the International Monetary Fund (IMF) prepares to send its delegation in November to evaluate the progress of the $3 billion stand-by arrangement (SBA). This anticipated review has significant implications, with Pakistan potentially accessing a tranche of $700 million contingent on a successful outcome. In this […]
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The United States Agency for International Development (USAID) has announced scholarships for flood-affected students in Pakistan. The scholarships will cover the cost of tuition, room and board, and other expenses for students who have been displaced by the recent floods. The scholarships are part of USAID‘s $100 million commitment to help Pakistan recover from the […]
Pakistan was pushed into political turmoil ever since ex-Prime Minister Imran Khan lost office last April. Then Shehbaz Sharif took over the office and he has been struggling to bring things back on track. He launched several initiatives and drafted strategies to recover the economy. Today, Sharif too will go home as the parliament of […]
The Securities and Exchange Commission of Pakistan (SECP) has announced new rules to crack down on predatory loan apps and protect borrowers. The new rules require loan apps to be registered with the SECP and to comply with a number of regulations, including: The SECP has also warned borrowers to be wary of loan apps […]
In an interesting turn of events, Syed Aminul Haque, Federal Minister for IT and Telecommunication revealed Pakistan’s first-ever WhatsApp like Beep communication application called Beep. Beep Pakistan is aimed to enhance digital communication within government organizations. The app is developed by the National Information Technology Board (NITB) and was officially launched on Monday. Beep boasts […]
According to the official data from Pakistan Bureau of Statistics (PBS) released on Friday, the Sensitive Price Indicator (SPI) revealed a 1.30% year-on-year increase in weekly inflation for the week ending on August 3. During this period, the SPI for the mentioned week was recorded at 271.56 points, compared to 268.08 points in the previous […]
Musadik Malik, Pakistan’s Minister of State for Petroleum said that Saudi Arabia is willing to invest $24 billion in Pakistan. He was talking to a local TV channel and mentioned that Pakistan is welcoming investment in energy, IT and agriculture sectors. Ishaq Dar, Finance Minister Pakistan, has also confirmed in a press conference that Saudi […]
In order to make traveling safer for women, the Sindh government has decided to hire female drivers for the pink bus service. The decision was taken in the tenth board meeting of the Sindh Mass Transit Authority which was chaired by Minister for Information and Transport, Sindh, Sharjeel Memon. In the meeting, it was also […]
